VAT Calculations do not match P&L

Continuing the discussion from VAT Return Calculations - Flat Rate:

I have changed my VAT to accrual as I understand that P&L are configured on this basis.

However when I look at the backing report for VAT it is showing as £33765.00 as total earnings, but my P&L is showing £33201.99 for the same dates.

help :smiley:

What dates are you entering on your VAT return to get those figures?

Thank you for your quick response. This is my first VAT return. I am using 22/04/2015-31/07/2015

I’m not sure what I am doing wrong - surely these figures should match?

Box 6 on the VAT return reports figures inclusive of VAT, however the P&L will report NET of VAT. This would explain the difference between the two amounts.

I don’t understand. The difference is only £564 - My flat rate of vat is 12%

Have you downloaded the VAT backing report to see what the VAT return has included then compared against the entries in the sales ledger? This should give you a clue as to why there’s a difference, perhaps some invoices are marked as out of scope?


£563.35 is the amount of sales tax collected over that period at the normal 20% rate.

563.35 + 33,201.99 = 33765.34

When you create invoices on FRV the VAT is displayed with the standard 20% rate. When you file your return QuickFile takes the gross value of all sales and the applies your Flat Rate % to this (12% in your case).

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